Double digit growth across the region for Deloitte

Stuart Cottee

Deloitte UK has released its 2022 financial results, reporting both strong balanced growth and record investment in people and services.

Revenue for the year ended 31 May 2022 climbed by 10% to £4.9bn, with resilient markets driving growth across Advisory and Audit & Assurance. And distributable operating profit increased by 21% to £711m.

Stuart Cottee, practice senior partner for Yorkshire and the North East at Deloitte, said: “Building on the success of last year, the double digit growth we’ve delivered across the region is down to our people’s commitment and dedication – they have all worked tirelessly to provide the best support to our clients.

“We have invested in our people in the Yorkshire region with 12 senior promotions, 59 graduates and 16 BrightStarts.

“As a firm we’ve achieved a lot in this past year in terms of our talent priorities. In addition to increasing the diversity of our senior leaders, we’ve accelerated the promotion and reward processes across all grades, introduced overseas working and adapted to hybrid working.

“The Northern hub for the Deloitte in-house creative agency, 368, which is based in the Leeds office continues to go from strength-to-strength with the addition of 50 new roles.”

Richard Houston, Deloitte senior partner and CEO, added: “Demand for all our services was strong, particularly in cloud technology, digital transformation and M&A services.

“Our results have enabled us to make record investments – the highest in over a decade – in reward, promotions and skills. We enter the new financial year with momentum and are well placed to navigate the current economic headwinds.”

Overall, Deloitte’s UK Advisory Businesses grew by 11%. Growth in Consulting was driven by demand across the private sector as it rebounded from the constraints of the pandemic.

Over the same period, the business welcomed more than 4,500 new staff. Additionally, it is also taking on almost 2,500 graduates and apprentices across all regions and nations of the UK – a 67% increase on last year.

Houston added: “For the first time in recent history, the UK is facing high inflation, and rising interest rates and costs.

“Our role is to help our clients, our people and our communities navigate these economic challenges while investing for the future through skills, innovation and digital adoption.”